All Forum Posts by: Michael Dinwiddie

I want to get my first short-term rental by the end of the year! 

I've narrowed in on some areas I personally enjoy and at first glance seem like they would be good STR markets in the PNW where I live. I've started studying Airdna/Rabbu data, MLS listings, enemy method'd a number of properties to get a feel for the numbers.

Now I want to hear from experts/investor/realtors/etc who know about these markets for STR. What's your take on these? What are important considerations & challenges? Do any suck or rock?

Thanks! -MD

MARKETS (Google Doc: PNW markets that interest me)

Ashford, WA (Mt. Rainier NP)

Port Angeles, WA (Olympic NP)

Pacific Beach/Moclips, WA (Coastal, near Seabrook which is super cute but very expensive)

Rockaway Beach, OR (Coastal, centrally located for Oregon Coast activities)

Long Beach, WA (Coastal)

Lake Cushman/Hoodsport, WA (Olympic Penninsula)

Situation: I am moving to SLC (with my wife and 1 kid) this summer to get a 2-year MBA at the University of Utah. I have $30k in investable cash and a full time, remote, job that I’ll have leading up to the MBA. 

I want to put that cash to good use and start learning real estate skills. I live a few hours from SLC currently in South east Idaho, but have flexibility to travel down/fix up a place if I get it during the summer.

Options: 

1) Find a multi-unit, put some sweat equity into it and house hack for two years then rent out the owner occupied side when/if we leave Utah in two years.

2) Find a single family, 3bdr, fix it up over the two years, then sell or rent when/if we leave Utah in two years.

3) Invest the cash and just rent for two years.

I’d love to do options 1 or 2, I’m prepared to do the leg work, but I want to get the communities opinion/advise.